Oaktree Capital Management, a global asset manager, announced its first $2.3 billion Life Sciences Lending Fund. The fund lends directly to biopharmaceutical and medical device companies across the globe. It has already committed 40% of the fund across 16 deals, 95% of these deals were not backed by private equity. The fund typically invests between $75 million to $200 million. More here
MUFG, a Japanese-based bank, announced its $1.5 billion climate platform. The platform was launched to help drive climate-focused investment into developing and emerging countries. It is supported by public and private organisations, including FinDev Canada and a consortium of United Nations partners. A total of 70% of the funds would be dedicated to climate adaptation projects, and a minimum of 25% to the least developed countries. More here and here
British Business Bank, A UK Government owned business development bank, announced the launch of its second $840 million Northern Powerhouse Fund. The fund will offer a range of commercial finance options with loans from £25,000 to £2 million and equity investment up to £5 million. The fund is also inviting proposals from potential fund managers. More here and RFP here
Nextalia, an Italy-based asset manager, announced a first close of its $327 million Credit Opportunities fund. The distressed debt fund will directly lend to distressed Italian corporates as well as purchase distressed exposures from Italian lenders. Nextalia is backed by Italian Financial Services Companies Intesa Sanpaolo and UnipolSai. More here
M. M. Warburg, a Germany-based private bank, has reportedly launched its first $150 million shipping credit fund. The roadshow is expected to begin in the coming months. More here